EXHIBIT 10.14

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2004

Employee Long-term Incentive Plan

NovAtel Inc.

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|Section 1  Plan Objectives                                   |  | 3
|------------------------------------------------------------- |  | -
|Section 2  Definitions                                       |  | 3
|Section 3  Effective Date                                    |  | 3
|Section 4  Eligibility and Participation                     |  | 3
|Section 5  Administration and Interpretation of Plan         |  | 3
|Section 6  Description of the Plan                           |  | 4
|Section 7  Payment                                           |  | 5
|Section 8  Termination of Employment                         |  | 5
|Section 9  Change of Control and Other Transformative Events |  | 5
|Section 10  Non-Assignability of Phantom Shares              |  | 5
|Section 11  Unrestricted Free Administration                 |  | 6
|Section 12  No Employment Guarantees                         |  | 6
|Section 13  Tax Implications                                 |  | 6
|Section 14  Applicable Laws                                  |  | 6
|Appendix A  Agreement                                        |  | 7

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SECTION 1  PLAN OBJECTIVES

SECTION 2  DEFINITIONS

For
the purposes of the Plan, the words and expressions defined below shall have the following meaning:

SECTION 3  EFFECTIVE DATE

SECTION 4  ELIGIBILITY AND PARTICIPATION

SECTION 5  ADMINISTRATION AND INTERPRETATION OF PLAN





3

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SECTION 6  DESCRIPTION OF THE 2004 PLAN











Position / Level

Grant
(as a percentage of salary)CEO

25%VP

15 - 20%Director (employee)

10 - 12.5%Senior Key Employees

5 - 7%Other Employees

2 - 5%




Base Year: 2003

2004 Grants (2004 - 2006 Cumulative Total)Cumulative Revenue

$38.7M

$169.04MCumulative Operating Income

$3.6M

$21.98M


4

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Weighting

Performance Metric50%

Revenue ($M)

$
169.04% of Target Achieved


100%% of Phantom Shares Vested


100%50%

Operating Income ($M)

$
21.98% of Target Achieved


100%% of Phantom Shares Vested


100%


SECTION 7  PAYMENT

SECTION 8  TERMINATION OF EMPLOYMENT



SECTION 9  CHANGE OF CONTROL AND OTHER TRANSFORMATIVE EVENTS



SECTION 10  NON-ASSIGNABILITY OF PHANTOM SHARES

5

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SECTION 11  UNRESTRICTED FREE ADMINISTRATION

SECTION 12  NO EMPLOYMENT GUARANTEES

SECTION 13  TAX IMPLICATIONS

SECTION 14  APPLICABLE LAWS

6

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Appendix A  Agreement

AGREEMENT ENTERED INTO ON

|BETWEEN |  | NovAtel Inc., a legally incorporated Company with head office at 1120, 68th Avenue NE, Calgary, Alberta T2E 8S5
|------- |  | ---------------------------------------------------------------------------------------------------------------
|        |  | (Hereinafter called the "Company")                                                                             
|AND:    |  | employee of                                                                                                    
|        |  | NovAtel Inc.,                                                                                                  
|        |  | (Hereinafter called the "Participant")                                                                         

WHEREASthe Company has set up a 2004 Long Term Incentive Plan for the employees of the Company for 2004 (hereinafter called the "Plan");

WHEREASthe Board of Directors of the Company has designated the Participant as being eligible to participate in the Plan;

WHEREASthe Participant accepts to participate in the Plan and shall be granted Phantom Shares under the terms and conditions provided for under the
Plan.

NOW WHEREFORE, THE PARTIES HERETO AGREED AS FOLLOWS



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NovAtel Inc.

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|                        |  | Date |  | 
|----------------------- |  | ---- |  | 
|Participant's signature |  | Date |  | 

7

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